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. . . money." go to "lunch i am adam johnson. nelson mandela is a name recognized all over the world and will likely written in the history books for generations. a freedom fighter who emerged to revolutionize a country in south africa. as you know, he died last night. he was 95 years old. >> a free man taking his first steps. from prisoner to president, nelson mandela's 1990 release from jail signaled the end of
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south africa's racist policy and he would go on to become the country's first truly democratically elected leader. >> the faithful for the republic of south africa. to ae in a small village local chief, mandela was one of 13 children and a first member of his family to attend school. in the 1940's, he began opposing the white minority's i'll see of apartheid, laws that segregated and made colored south africans second -- second-class citizens. at first, mandela was inspired by gandhi's approach of nonviolent resistance. as white south africa became more aggressive, so did he. as the head of the armed wing of the national international he was arrested and
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tried in 1962. he was then 27 years in jail and was never forgotten. eventually, international and internal pressure led to announcing it would be dismantled and he would walk free. rather than seek recognition, nelson mandela reached out to his former pressures -- oppressors. he shared the nobel peace prize. >> we want them to feel safe. the will appreciate in death and what they have made. >> he voted for the first time with millions of this fellow black and. statesman, an international icon.
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despite struggles -- >> free of any idea. >> many will remember this. mandela celebrating south africa's place in the stage is hosting 2010 soccer world cup. >> africa loves him. >> it reads, thank you for our dignity. internationalf support and sympathy was immediate. tweets of personal statements infinitely -- instantly reinforce mandela as a hope. >> nelson mandela was a giant for justin -- justice.
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many around the world were greatly influenced by his selfless struggle for human committee, equality, and freedom. >> in the u.s., the white house flag is at half staff today. president obama made a statement from the white house last night. classes journey from to a president embodied the promise that human beings and countries can change for the better. his commitment to transfer power and reconcile with those who jailed him is an example all humanity should aspire to, whether in the lives of nations or our own personal lives. the fact that he did it all with and thed good humor ability to it knowledge his own imperfections, only makes the man that much more remarkable. said, "i am not a saint, unless you think of a saint as a sinner who keeps on
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trying. " >> that gets to the heart of his humility. he did so much good but he struggled with his own short humming. bono and morgan freeman knew all about that. >> he does not feel like a big success we all hold him up as. he thinks of himself, personally, deep inside, as a failure. because of his family life. he could not do both. >> south africa became his family. >> yes. so, his obligations to his son, it weighs on him today. >> he had an operation on his tear ducts because when he , thed in the salt mines salt earned out his tear ducts.
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this man, this figure, that will be remembered, not just in south africa, not just in africa, but from china, asia, everywhere, the man who could move so many people to tears, himself, could not cry. >> south africa became a huge debate in the u.s., whether or , a vocalvest sanctions supporter of her states assembly -- americaill eventually caught up with her. she spoke with tom keene, catching up with our own folks here talking about apartheid and her first meeting with mr. mandela. >> i was in awe of this awesome ,uman being i had worked for that i had read so much about, that i had educated others in
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the california legislature, that that ione to jail for, had rallied on college campuses for, and all of a sudden, when he landed, in los angeles, when we created the big welcome event for him, there he was, and i was dumbstruck. i was in all of him, and, of course, you know, there is no one else like him. >> congresswoman, someone -- the emancipation proclamation took a long time to come to fruition. we move from the civil war into the 1960's. that is our experience. there is a different south african experience. thesimilar or different is black experience in south africa, versus the united states? >> apartheid in south africa was the worst kind of oppression you could ever imagine. not only did you have people who to areas fard
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outside of the main cities of south africa, who lived in shanties, one water fountain that served thousands and people brown, or white, and if you fell in the black category or the brown category, you simply could not be educated, you simply could not have a decent job. you worked in the mines for pennies. it was horrible and awful. it was even worse than what we therienced going through kind of discrimination here in this country. >> when you look at united as so fractious now, and we need to move forward, what lessons can we mandela forelson 2014 or 2016? >> what we have to understand is oppressed people will not endure
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oppression forever. if there is not equality and justice, and an opportunity for people to realize their potential and have a decent quality of life, that you are going to have confrontation eventually, that you cannot oppress people and expect them not to rise up. i think we need to understand that and we need to understand that we can live together, but for those people who really do not believe in it, that is where the problem comes in and that is where the trouble is. of us withfor all south africa is, no matter, they did not have weapons. no matter they did not have education. they rose up and nelson mandela was in the leadership of that and he was determined there would be justice. he gave his life, practically, for it. not just the other governments and companies can learn a lot from mandela.
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see what mandela did, it is amazing. he comes out of 27 years of prison. you would expect him to be vindictive. he is not. he understands he could help build a new south africa. in also understands the buy- from all segments of society and secondly, it means training people to do things differently. work. down to look at how other countries are struggling when it comes to pivoting from dismantling the path to building a better future. i think the whole world owes a lot to him because he is an example of what needs to be done if governments and companies are able to navigate this changing global paradigm. >> here is one more thing we can all learn. if you are down-and-out and film like you never did anything with your life, just remember, nelson mandela got out of prison when he was 72 and then he changed the world forever. not judge me, "do
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by my successes, judge me by how many times i fell down and got back up again. " ♪
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>> this is lunch money. i am adam johnson. left take a look at the menu. an economy jobs report, wall street can dance. hiring is up and so is stocks. we will go inside ebay today and find out how the auction site ashley is all it top talent. politics? budget? d-day is upon us and congress does not know if they will be able to make the deadline. wet is next week. in sports, are told about the nike deal. an exclusive interview. finally, bottoms up. we will learn how to taste a $2000 bottle of whiskey. let's get to the economy in the
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november jobs report. new jobs, 200-3000 knitted. the unemployment rate is down to a five-year low. >> this month came in at 7.023%. point/10 of a percentage below a six handle. the fed has been talking about exploit five percent and that is their threshold. we are getting awfully close to will not only spark taper talk but also a lot people out there that the job market is getting better. if they see in december we fall to a six percent number. so a jobs report that causes the fed to taper talk a little sooner. you might think that would freak out wall street. not the case. stocks are rising today. it is said there is very little wrong with the report and it is also surprising. >> it is strong in terms of the .eadlines for job creation it is strong in terms of how we got there. the unemployment rate came down while the participation rate went up.
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it is good news and it is also strong in terms of earnings. it is an unusually strong report . it will be welcome by the fed. it will be welcome by everybody. it is good for main street. >> you know the white house is feeling good about the november jobs report. tom speaking with betty liu. qwest there is still a lot of unfinished business without a doubt. two examples. if you look at the long-term unemployed, it is still unacceptably high. some of the highest rates we have seen since post-world war ii does. have rates this high, it is virtually unprecedented for congress to do nothing. that is why it is so important to move forward. qwest some people say, the numbers look good. when you dig down into the numbers, there are troubling trends. >> if you look at the report, and we have a measure that is the broadest measure of unemployment, that measures discouraged workers, only
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marginally attached workers, the rate of unemployment, the geeky economists call it the you six, that rate of unemployment declined more last month than any month since the figure was being measured. that is good news. labor force participation was back up. there are a number of very solid signs that we continue to move in the right direction. >> ebay is hiring but you will not find free snacks and ping- pong tables. what we will show you is actually happening inside. we are going inside ebay, alex was a look behind the scenes next. find the new kobe nine on ebay yet either. you can hear about it right here. we will sit down with the man himself later in the hour. >> [indiscernible] >> fast food workers of the
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world unite. you -- employees of restaurant chains rally today in about 100 cities across the u.s. and want to raise industry's minim wage to eight dollars an hour and unionize. the average wage for a counter dollars andght seven cents an hour. the federal minimum wage is seven dollars and $.25. ♪
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in him
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>> emily chang of whom are wes breaks down the numbers. >> ebay, more than 31,000 employees in 33 countries around the world. driving three different businesses. the online marketplace, where 124 million active users by, sell, or bid on more than 500 million items. in the u.s. alone, a flatscreen tv gets sold every six minutes. sunglasses, a pair every 18 seconds. globally, every minute, 362 pieces of clothing, shoes, or accessories are sold just on mobile to vices. then, there is paypal, the digital payments arm where people send or receive money 729
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million times last quarter. is more than populations of the u.s., south america, and australia combined. you could pay him 26 different currencies on paypal, ranging to the japanese yen. finally, ebay enterprise, helping bring technology like touchscreen walls and payments to more than 500 of the world's biggest retailers. thanf it adding up to more $14 billion of revenue for ebay last year. >> big numbers. silicon valley is certainly known for talent wars. tech companies battle each other for top engineers. throwing in a few perks. jon erlichman tells us ebay is actually taking a no thrills approach and it seems to be working. gourmet mealsee at facebook, the ping-pong tables at google, silicon valley is known for offering plenty of employee perks. ebay takes a different approach.
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>> we have a variety of different perks but that is not the way we ask people to join our country. qwest there is a free jim and shuttles but employees pay for on-campus food dry-cleaning and massages. >> the purpose working for our country -- company. people come and believe in our purpose. qwest that purpose to enable $21 billion worth of global commerce by 2015. ebay is adding to its army of technologists and customer support staff, already more than 31,000 strong. roughly 40% of new ebay hires come from their program. there were more than 800 programs this year. a group that may not care as much about the freebies. >> this is very much the case with millennial's. they care about impact. they care about the impact the company makes on the world. qwest by recruiting from 300 schools will globally -- schools globally, it gets an idea of how the next generation views their brand. qwest when you ask young people
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what they think of when you say ebay, what are they often a e -- often say? >> it has changed a lot. not many people realize that. >> ebay is hiring 500 new grads around the world. even as it grows, the business is growing faster. qwest we are in internet technology company that works off of platform. be able toon is to grow the business without having to grow the number of employees at the same rate. jon erlichman, bloomberg, san jose. qwest a special "bloomberg west" is live in the next hour. they have exclusive interviews ebay ceo andhey -- president of paypal. do not miss it next hour. a $2000 bottle of whiskey and drinks and congress may need a stiff drink to get through the next week. there is a budget deadline
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coming and no deal insight. -- in sight. ♪ >> it is 26 minutes after the hour. we are on the markets. let's take a look where stocks are trading today. breaking a five-day losing streak as it trades higher by nearly one percent on the yield of better than estimated jobs data for the last month. the dow and the nasdaq following suit. we want to highlight two for you. first, shares falling the most since december 2009. retail reported third-quarter results and forth order guidance that both fell short of analyst estimates. downgraded to neutral from overweight. also, j.c. penney,
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things were looking up for the struggling department store chain earlier in the week when annualrted its second sales gain. the fcc asked for information that it isinances using to fund turnaround efforts. we will be back in 30 minutes. ore next. ♪
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class we are streaming live. i am adam johnson. the video is the story. paying tribute to nelson mandela outside the house in south africa. he was called south africa's greatest son and remembered as a global symbol for reconciliation. he was 95. the powerful north sea storm -- hit with its heaviest storm surge of 37
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years. water rose 13 feet above the medium high tide level. earlier, london also closed its own gates as the storm passed through the british isles. in shanghai, officials took emergency steps after a thick smog pushed us -- pollution yet again. industrial companies were told to produce or hold entirely. the air quality hit severe. moving on now to politics, one week to go before the budget conference committee has to come up with a spending plan. this is one of the conditions of the deal struck. the gop budget guru paul ryan and the senate budget committee chairman are leading the talks. class i am hopeful paul ryan and patty murray will come to a budget agreement and that they can pass both isles in the senate.
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-- gave us an update on where they were and i am hopeful they will be able to work this out. there is clearly no agreement. click the clock is ticking. there is still much work to be done. time is running out on a budget agreement. we understand negotiations are we alsong and understand there is no final deal. qwest paul ryan says he does not know if they can reach a deal by friday but does they are working on it. what they are working on is a narrow word he'll, trying to ease sequestration. in case a budget deal is not reached him a lawmakers came up with a short-term bill to fund the government, which runs out of money yet again on january 15th. matt out joined the surveillance team this morning. ultimately put
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agreement together that is a short-term agreement. to me, we will not get out of the political mess until 2016. we are in a situation where the president is not trusted by the majority of americans are both parties are not trusted by the majority of americans. donebility to get anything will have to wait until the next president. qwest, force doesn't yet in 2014? -- hard forhard to me to know how low, i thought three months ago was how low it could go. it could drop lower. is people will start acting out. the majority of the company is so upset, and it has not been dealt with and so -- in so long. i think there will be social unrest. i believe we are on a verge of the arab spring. seen all the strikes for the minimum wage. qwest people have said we have gone through this for 25 years and nobody has done anything.
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qwest kobe bryant picks his dream team, surprising basketball legend not on his list. plus, still to come, ingredients of moonshine. as we go to break come in china's first unmanned lunar probe is orbiting the moon. these are the engineers making it happen. the probe will make a soft landing and ask where the surface of the moon. china will be the third company -- country to land on the moon after the u.s. and soviet union. ♪
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>> welcome back. also signed a huge contract extension with the lakers worth about $48.5 million. jon erlichman caught up with the man himself. the nike relationship is an important one for you. the lakers partnership is an important one. you just signed a new contract. was is -- was it important for you to get the contract signed? >> from an individual perspective, yes. whenever you have opportunity, you have security and things locked up, -- it, the way i was viewing one of the lakers to do what was best for them. i was extremely thankful for everything they had done for me
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throughout my career. i was stepping back. great and went through a myriad of options. i accepted. out over the next year? will you be chief recruiter for the lakers? will you make any calls? click yes. one of the things i am concerned about, what happens to the lakers organization when i step away from the game. i do not want them to have any dip whatsoever. i wanted to continue to win championships and do what they do. >> how does he juggle his two roles? >> i am an executive for my own brand of roddick's and i've learned a great deal from that. it is tough for athletes. asked to wear two half that contradict each other. from an athlete perspective, you with team passionate
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first and winning first. then we have to put on the business that and then you get the public backlash of being a business mind, a businessperson. for whatever reason, athletes have become a little reluctant to do business things and make business decisions because of that. tot is something that needs change. >> he told my colleague that ownership is not something that >> iests you too much. might reconsider now considering new collective targeting roles. >> yes. what about other sports? like a sport like soccer? >> i will look into it. sports is something i am passionate about. that will never go anywhere. to be around sports and that type of fashion, -- >> magic johnson, his business kind of, afterhe
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your encore days are done, is that it plays you see yourself going echoplex we differ a little bit. i enjoy building things. startinghe process of the company and then adding marketing or helping the design of the product from the inception of the brand, more so than pardoning within established brand and lending your name to it. i enjoy actually getting into the trenches and growing something from the beginning to the end. >> you are already thinking about the next kobe. >> yes. 1011. >> will there be 15 and 20 echoplex i hope so. the brand is living well beyond my playing days. >> michael jordan recently made headlines for saying, if i could put together a team of five guys to have fun on the court, who would i pick, can we ask kobe
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bryant the same question? qwest not a bad group. let's see if i can name some. i will do magic, myself, bill jabbar,, kareem abdul- and larry bird. >> notice michael jordan did not make the dream team. the lineto draw somewhere. you can watch the full interview with kobe bryant online. go to as well as our award-winning at. learn from the man with the biggest collection of whiskey on how to properly taste a two thousand dollars bottom of booze. maybe moonshine is more your thing. we have got you covered area the stars will tell us how they do
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it. ♪
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>> whiskey and moonshine. discovery channel's "moonshiners" follows the lines of men making a fortune out in the backwoods, making booze. i spoke with two of the shows how they got them into the despair qwest it is something you grow up into it. if you grope in the neighborhood, what are you going o do? >> it is normal for you. you do not worry about getting caught? >> you do worried about getting caught a little bit. you have to keep that in the
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back your mind. aboutou stop worrying getting caught, that is when you start making mistakes. we exercise that all the time in our mind. i went legal this year. myself,oing to expose the only way i could talk about is to go legal. qwest what goes in their? qwest a special recipe. acorn mix. the process is what makes the taste. it is not high-grade alcohol. i do say they're not doing it properly, but back to the roots of basic homemade alcohol. that is what it is. the basic real deal. you grow tomatoes. and we make it happen. >> they do. maybe moonshine is not your thing. -- what about w
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-- whiskey? .lass you'll be trying this all of these iconic established brands, and then look for the limited release bottles. qwest you have got to do a lot of research. click yes. investing, i suggest to go. there is a lot of risk -- whiskey tasting. class i open the bottle and do not collected because we end up drinking it. let me ask a dumb question. and thenpen the bottle keep it on the shelf? >> that is the beauty about whiskey. once you open the bottle of wine, you have to drink it. the beauty about whiskey is when you open it, it will stay for five years or so.
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i am like you. it is not just about collecting. i enjoy the product. is, by two.y -- to enjoy. qwest look at the bottle next year. >> they are beautiful. these are more expensive. qwest i want to talk about what is next to it. that is iconic. back in the 1990's, released from that batch. they were a couple of hundred dollars at the time. the original ones now are up to six or 7000 -- $7,000 in value. this was just launched last night in the united states. they will run at four point $5,000. work a real masterpiece of . qwest you would say to buy into that because even if it is $4500, it will go up here qwest bottles like that will go up. all of them have gone up here and all of the brands are iconic. go with something that has substance. all the popular brands.
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look for something with a little bit more of a limited production. >> you know what that means. qwest it is a time to drink. wonderful -- scottish. running $1500.y >> are you kidding? >> yes. i have a treat for you today. this is what we do. -- this is an iconic crystal glass. you can really get the nosing and get all the flavors coming out. let me pour you some. >> you would like to have a cigar with your whiskey? >> i occasionally have scars, but a whiskey of this nature you do not want anything else on your palate. in scotland, good health.
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>> we say human resources. part your lips a little bit and have a nose. >> this has got so much age in there. >> how old is it? >> 1972. 39 years old. >> do you mind if we finish it? >> please do so. >> radio will wait. we buy 10 year, 12 year, there is a marketing of more affordable scotch. where do i get most wrong when i go to a bar or walk into a liquor store and am like
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everyone else buying a $60 bottle of scotch, what is my biggest mistake i make? >> you are not making a mistake. more? ld i spend $20 >> i would say start with that. if you enjoyed that palate, then move up the ladder. then explore and go to the next level. that does two things. you can become a collector or connoisseur and start drinking, but that is when you start appreciating. the older the whiskey's get, you get a bit more. qwest it is like a christmas party at betty liu. here is a whiskey fun fact. more than 50% of the purchase price of 1/5 of whiskey in the u.s. goes to federal, state, and local taxes. something you do not want to do after a night of drinking whiskey. ski jumping. today's mystery meat. world cup ski jumping event. the jumpers sailed more than the
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length of a football field. let's watch. ♪
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>> let's get you caught up on where stocks are now. we do have stock raking the five-day losing streak and rallying today. this is different than you have seen. in recent days, you get better than estimated economic data, we have had stocks pull back as on deals go higher on the perception the federal reserve will begin tapering the stimulus. -- we have theot two year yield higher. what to make of all of this? there is less than a month left in the year and the markets have been doing very well. joining me now to dive into what could be next is the chief a bankent strategist at visiting us from chicago. good to see you in person. what do you make of today's jobs report and the reaction we are seeing not only in stocks but also bonds? qwest this is a fascinating day that market made up their mind
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and growth is good. they are not fearing the taper, what you are seeing in the bond market today. this has a lot of implications for sector selection, where rates can go, and i think it is the right call, as well. >> if tapering is happening, whether it is good or bad for the markets, normally, that would make yields go higher. >> the view is that tapering has actually had relatively little impact on the bond market. clearly, the fact that quantitative easing asset purchases have continued ease and -- even as treasury has declined is telling you supply and demand is not dominating. after decades in the bond market, you see supply and demand is a tertiary factor. what is important is nominal gdp. trailing for your average is what the market trades off of. bonds are growing higher because we are seeing growth in nominal gdp again. that being said, you would not expect runaway yields given
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growth, given inflation so far. i think the market has figure that out. but noth is going strongly enough to push the yields high. >> until you see inflation. >> does all this support a continued rally in the stock market? >> absolutely. a modest increase in yield will not destroy the stock market as long as you get corresponding growth, which we see on the horizon. >> is this growth the goldilocks to come back to that cliché. is that what we're seeing echoplex i hate to say it -- seeing? >> i hate to say it. i think we will get a whiff of inflation coming in. >> what are some of the sectors that might do the best going into 2014. >> you either have to like the industrials or start looking helping sectors like technology, putting people back
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to work should be helpful to consumer discussion. has had a long run. one more contrary in play here. onthe market figures out yields will not run away, maybe something like utilities, relative to bond yields, do seee to -- they earnings growth as the economy improves. i think it is an interesting place. >> ok. thank you so much, talking to us about the jobs report and the fallout. we will be on the markets once again in 30 minutes. "bloomberg west" starts next. ♪
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>> live from ebay headquarters, welcome to a special edition of "bloomberg west." inside ebay. it started as an auction site, but it has become much more. a massive online marketplace, a major player in online payments through paypal. along the way, the company has transformed from it scrappy upstart to a silicon valley leader, bringing in billions annually. today, we are at the center of it all, inside ebay. welcome to ebay headquarters in san jose, california. this is a special edition

Lunch Money
Bloomberg December 6, 2013 12:00pm-1:01pm EST

News/Business. All that's driving the markets at midday on Wall Street. New.

TOPIC FREQUENCY Qwest 15, South Africa 11, U.s. 7, Nelson Mandela 7, Us 6, Mandela 6, Lakers 4, China 3, Paul Ryan 3, Jon Erlichman 3, Adam Johnson 3, Michael Jordan 2, Betty Liu 2, San Jose 2, California 2, Brown 2, United States 2, Nike 2, Bono 1, Morgan Freeman 1
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